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Showing 51 - 60 of 123 results for "ASIC Act"

ASIC provides relief around early super access advice

JAMIE WILLIAMSON  |  TUESDAY, 14 APR 2020
ASIC has announced three temporary measures to assist the industry with providing affordable and timely advice during the COVID-19 crisis. It has also confirmed it is delaying its work on grandfathered conflicted remuneration and life insurance advice. ...

Shortseller ordered to pay $900,000 by court

KANIKA SOOD  |  THURSDAY, 2 APR 2020
... Bonitas and Wiechert at $530,201 and damages at $368,974, declaring they had contravened both the Corporations Act and the ASIC Act. Interestingly, Bonitas had declined to appear in court for the December 9 hearing. A letter sent from Wiechert to Rural's ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... reforms was slow and the fund breached its duties to members. ASIC is seeking declarations of breaches of s12DA of the ASIC Act and ss912A(1)(a) and (c), 949A and 1041H of the Corporations Act and the imposition of civil penalties under ss12DB and 12DF ...

Early access to super scheme results in permanent ban

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
ASIC has permanently banned the man behind Superfunded, an illegal early access to superannuation scheme in Perth. Mark Goldenberg was chief operating officer, general manager and property analyst of Superfunded. His scheme enabled people to use their ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... from the Royal Commission, such as the recent civil penalty litigation it took against TAL, for allegedly breaching the ASIC Act, Corporations Act and Insurance Contracts Acts in avoiding an income protection claim in 2014. One case, ASIC said, is currently ...

Short seller bites the dust

KANIKA SOOD  |  THURSDAY, 13 FEB 2020
An activist short seller that accused an ASX-listed agricultural fund of running "scams" was dealt a blow in a Supreme Court judgment handed down yesterday. Texas-based Bonitas Research previously alleged Rural Funds Group (ASX: RFF) was overstating ...

Calls for review of advice regulation

HARRISON WORLEY  |  THURSDAY, 6 FEB 2020
... Corporations Act, Tax Agent Services Act, National Consumer Credit Protection Act, and other obligations imposed under the ASIC Act and FASEA to name a few. "Often there is no harmonisation between these regulatory frameworks, or even within a single ...

Government edges towards regulator cooperation

HARRISON WORLEY  |  TUESDAY, 7 JAN 2020
... designed to ensure no barriers would impede their attempts to share information. Additionally, the bill will amend the ASIC Act to bring its meeting procedures into line with those of APRA, another recommendation made by Hayne. Hayne's assessment of ...

TAL loses group insurance mandate

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... under the Insurance Contracts Act. ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million.

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... after the Royal Commission. The corporate regulator is seeking to find NAB made several thousand contraventions of the ASIC Act and the Corporations Act between December 2013 and February 2019 by engaging in fee-for-no-service conduct by not providing ...